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Mobile Banking In Brack Bank Essay

1527 words - 7 pages

Brack Bank

Corporate Vision

Building profitable and socially responsible financial institution focused on Market and Business with Growth potential, thereby assisting BRAC and stakeholders to build a just, enlightened, healthy democratic and poverty free Bangladesh”.

Corporate Mission

Sustained growth in Small & Medium Enterprise sector

Continuous low-cost deposit Growth with controlled growth in retail assets.

Corporate Assets to be funded through self-liability mobilization. Growth in Assets through syndications and investment in faster growing sectors.

Continuous endeavor to increase non-funded income

Keep our debt charges at 2% to maintain a steady ...view middle of the document...

BRAC Bank Wins the Award for Best Retail Bank in Bangladesh by The Asian Banker

BRAC Bank has been named the sole winner for Best Retail Bank in Bangladesh at the 10th International Excellence in Retail Financial Services Awards Programme.

The bank received the award at The International Excellence in Retail Financial Services 2011 Awards ceremony, held in conjunction with the region's most prestigious retail banking event, the Excellence in Retail Financial Services Convention.

Mr. Abdur Rahman, Head of Branch Banking of BRAC Bank, received the award at the award ceremony held at the Shangri La Hotel in Kuala Lumpur on March 11, 2011. BRAC Bank is the sole winner in Asia for the award in Best Retail Bank in Bangladesh.

About 150 senior bankers from award-winning banks in 29 countries across the Asia Pacific, the Middle East, Central Asia and Africa attended the glittering event that recognises their efforts in bringing superior products and services to their customers. The awards programme, administered by The Asian Banker and refereed by prominent global bankers, consultants and academics, is the most prestigious of its kind.

On the prestigious award, Managing Director & CEO of BRAC Bank Mr. Syed Mahbubur Rahman said, "We consider this international recognition as impetus to reach new height. Our diversified retail product range with online facilities and superior customer service give us edge over competitors in retail banking. While we continue to focus on SME Banking and maintain our leadership position, we will thrive for excellence in other areas too. And this kind of international recognition will always encourage us to do so."

BRAC Bank's strategy in 2010 was to provide a well-rounded retail banking platform for the Bangladesh market. It achieved this by focusing on developing its physical and electronic distribution network, and developing new products and services.

With the largest network of terminals, branches, ATMs and point of service outlets in Bangladesh, the bank has quickly gained the reputation of being a leading bank that customers can rely on. The bank was the leader in attracting "1 million customers" in Bangladesh, outpacing its closest competitors within a relatively short period.

BRAC Bank has had solid growth in retail deposits, revenues and profits. The bank also scored a first with the launch of the country's first e-commerce banking platform. In the inward remittance segment, it was able to capture almost 40% of the total market share. In December 2010, BRAC Bank launched Bangladesh's first e-commerce banking platform in alliance with Visa.

Chris Kapfer, Head of Asian Banker Research, says, "This has changed the retail banking landscape as it offers more options for customers in using Visa cards for online shopping. This is innovative as the online shopping platform presents customers with 24/7 opportunities to shop for daily necessities and other goods from the...

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